global economy

Cultural  

1. The international spread of capitalism, especially in recent decades, across national boundaries and with minimal restrictions by governments. The global economy has become hotly controversial. Critics allege that its props, free markets and free trade, take jobs away from well-paid workers in the wealthy nations while creating sweatshops in the poor ones. Its supporters insist that the free movement of capital stimulates investment in poor nations and creates jobs in them. The process is also called globalization.

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Example Sentences

The Bank's latest report into the risks facing the economy found borrowing costs were likely to rise as the result of the "shock" to the global economy.

From BBC

“I do think it would be a real problem for the global economy.”

From MarketWatch

China needs a stable global economy as it is heavily reliant on selling goods around the world as it tries to revive an ailing domestic economy.

From BBC

“But the global economy has buffers and has weathered $90-$120 oil before,” it says.

From The Wall Street Journal

“This remains a real concern for oil inflation infiltrating the global economy.”

From The Wall Street Journal